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China blamed for most intellectual theft

Sat, 25 May 2013 20:04:55 -0400

Intellectual property theft is supposedly costing the United States more than US$300 billion each year. A study in the US has shown this is equivalent to all US exports to Asia. The 11-month study by a Congressional Commission found that software and other product theft was on an unprecedented scale. Commission co-chair Jon Huntsman, the former US ambassador to China, told reporters the ...

Vatican Bank seen to be more controlled

Sat, 25 May 2013 20:03:01 -0400

The Vatican Bank has been the subject of a 10 page report from its newly formed financial watchdog agency. The report has revealed that there were some attempts last year to use the bank to launder money. In 2012 there were six suspicious transaction reports, two of which were passed on to Vatican prosecutors for investigation. Autorita Informazione Finanziaria, the watchdog, was created ...

Venezuela vows to solve toilet paper problem

Sat, 25 May 2013 20:06:52 -0400

The Venezuelan government has vowed to end a toilet paper shortage in the country. With the commodity in high demand, Venezuela's National Assembly has said it will agree to the importation of 39 million rolls of toilet paper. Toothpaste and soap are also on the Venezuelan shopping list following a chronic shortage brought on by currency controls, which have restricted the landing of ...

Forbes magazine praises powerful women

Sat, 25 May 2013 20:08:18 -0400

Forbes has listed the world's most powerful woman for 2013 as Angela Merkel. She has become Forbes' number one for the 8th time. This year the list featured 8 heads of state, including the German Chancellor. Other women listed were two new billionaires to the list, women's clothing designer Tory Burch and Spanx's Sara Blakely, who both own their own companies. They were two of 24 ...

June 28 to see News Corp split into two companies

Fri, 24 May 2013 16:56:04 -0400

WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...

Audit records of Chinese firms to be made accessible to US regulators

Fri, 24 May 2013 16:37:07 -0400

BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...

Investments being sought by Croatia for oil exploration in Adriatic Sea

Fri, 24 May 2013 16:42:23 -0400

ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...

Fan fiction authors to find platform on Amazon

Fri, 24 May 2013 16:39:36 -0400

WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...

Central bank of China to push forward market oriented reforms

Fri, 24 May 2013 16:37:38 -0400

BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...

IMF warns UK against continuing austerity programme

Wed, 22 May 2013 15:53:31 -0400

LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

Lamprell takes the heat off by meeting in Dubai

Sat, 25 May 2013 19:29:08 -0400

management , here is a public relations quandary. How does a London-listed company best stage an annual general meeting as shareholders reflect on a year in which (a) their investment has slumped by more than 60%; (b) the company has issued five (count 'em) profit warnings; and (c) one of those profit warnings came just a fortnight after two executives sold substantial stakes in the ...

Space the fiscal frontier government looks to the skies for rebalancing

Sat, 25 May 2013 19:29:07 -0400

Major Tim Peake will be the first Briton to go to the International Space Station, but the government has great hopes for the wider UK space industry. Photograph: Will Oliver/AFP/Getty ...

Boden tries foreigners for size as label goes for growth

Sat, 25 May 2013 19:29:05 -0400

fashion brand whose fans include David and Samantha Cameron. But now the label, known for its stripy T-shirts and sunny prints, is gearing up to challenge TopShop and Gap for international profile.It already has dedicated websites and catalogues in the US, Germany, France and Austria as well as the UK, and shoppers from more than 50 countries buy the brand through those channels. Over the next 12 ...

Mark Carney Canadas rock-star banker faces four bars to success

Sat, 25 May 2013 19:29:04 -0400

Few decisions in British economic policymaking have been so acclaimed in recent years as George Osborne's appointment of Canada's rock-star central ...

Why worrying about food miles is missing the point

Sat, 25 May 2013 19:29:03 -0400

Getting your lamb from New Zealand isn't hurting the planet and buying your potatoes from the other end of the country is fine. Jay Rayner says food miles are not the problem and, below, visits an ...

Corporate tax our mainstream parties all fawned over multinationals | the big issue

Sat, 25 May 2013 19:29:02 -0400

How our tax inspectors fell in love with tycoons ", Nick Cohen).Britain's mainstream parties pretend to differ on the taxation of multi-nationals yet were happy with Revenue & Customs cutting sweetheart deals. They also pretend to differ on the EU, yet are committed, as are many Eurosceptic Tory MPs, to the free movement of labour within an ever expanding, albeit looser, EU.This is ...

5-time Sprint Cup champ Jimmie Johnson seeking to make history at the Coca-Cola 600

Sat, 25 May 2013 19:20:53 -0400

Matt Kenseth looks on as crew members work on his car during practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. (AP Photo/Nell ...

Blackstone Notifies Cohens SAC It Intends to Pull Funds

Sat, 25 May 2013 17:20:12 -0400

May 25 (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc , the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.A pension consultant, in a May 21 letter to clients, said Blackstone has notified Cohen that it intends to "fully ...

Why PBR beer prices have increased

Sat, 25 May 2013 15:05:04 -0400

USA Contributor Regina Lewis breaks down the week's "3 Big Money Headlines" with MSNBC's Alex Witt. She explains why fewer people are hitting the road this Memorial Day weekend. Lewis reports the good news from the housing market and the importance of smart inventory. She reveals why the prices of Pabst Blue Ribbon ...

Migrant jobs squeeze alarms UK fruit farmers

Sat, 25 May 2013 14:27:41 -0400

The rise of Ukip is having unexpected consequences for Britain's countryside. Farmers fear that the political upstart's success has the government running scared on immigration, with the result that foreign workers could soon be absent from Britain's fields."We can see there's a toxic mix brewing," says Alastair Brooks, who employs 200 temporary foreign workers to ...

Microsoft Reveals The Xbox One

Sat, 25 May 2013 14:27:19 -0400

Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...

WPP Wins Crucial Backing Over Pay Reforms

Sat, 25 May 2013 14:18:45 -0400

WPP, the world's biggest marketing services group, is poised to escape a repeat of last year's shareholder revolt despite paying its chief executive more than 17m in 2012. Sky News understands that two key shareholder advisory bodies have decided not to oppose WPP's remuneration report ahead of the company's annual meeting on June 12. Their decisions follow a sharp ...

Recovery Return of the Opportunity Entrepreneur

Sat, 25 May 2013 13:40:12 -0400

small businesses . It was a bittersweet accomplishment for many new moms and pops, who became known as necessity entrepreneurs. Now five years later as the recovery gains traction, new data shows the tables have turned. Instead of necessity-driven new businesses, more U.S. entrepreneurs are launching ventures based on perceived opportunities, growth ambitions and a broad optimistic outlook--a ...

Walt Disney One man and his mouse... and how they blighted our world

Sat, 25 May 2013 13:32:20 -0400

If you wanted to nominate the most influential Americans of the 20th century, you could begin with politicians and artists. But those choices misunderstand the country and the way it regards desire, and irrational desire, as human rights. Americans call that the pursuit of happiness. And feeling good about yourself depends on services, facilities, panaceas, and shopping. So you'd have to ...

Video Rent your car while youre out of town

Sat, 25 May 2013 13:25:20 -0400

The premise of a startup in northern California is to put your car to work, while you take a vacation. Travelers can leave their cars at the airport and visitors then can rent them for a minimal daily rate. "Flightcar" doesn't promise a payout, but if you leave your car you don't have to pay for parking. Julie Watts ...

Video Money can buy happiness if spent properly

Sat, 25 May 2013 13:25:19 -0400

Can money buy happiness? Anthony Mason speaks with Harvard Business School associate professor and author of "Happy Money" Michael Norton about how certain spending can bring ...

Automaker Tesla takes fight to North Carolina mulls what could be tough national battle

Sat, 25 May 2013 12:46:05 -0400

RALEIGH, N.C. - Tesla Motors is fighting a bill in North Carolina that would effectively ban the company from selling its electric cars in the state, pitting it against auto dealers who say the car maker has an unfair advantage selling directly to consumers online. It's the latest such battle for California-based Tesla, which like other car manufacturers must navigate a patchwork of state ...

Microsoft knuckles under yanks YouTube app for Windows Phone

Sat, 25 May 2013 12:37:05 -0400

Computerworld - Microsoft has bowed to pressure from Google and pulled the YouTube app from its Windows Phone Store that earlier this month triggered a cease-and-desist letter from the search giant. The two companies will instead collaborate on a YouTube app that abides by the Google-owned video site's terms of service. "Microsoft and YouTube are working together to update the new ...

States With The Most Americans On Disability 247 Wall St.

Sat, 25 May 2013 12:23:50 -0400

The number of Americans receiving Social Security Disability Insurance (SSDI) more-than doubled over the past two decades, from 5.2 million to 11.7 million by the end of ...

Blackstone notifies Cohens SAC it intends to pull money pension consultant

Sat, 25 May 2013 12:23:09 -0400

Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, listens to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, ...

Video The economy and summer travel

Sat, 25 May 2013 12:21:48 -0400

With many Americans planning a summer vacation, how they travel says a lot about the U.S. economy. USA Today national business travel correspondent Charisse Jones discusses the recovery and the kick-off of the summer travel ...

Apple Loop Macs Made In Texas iOS 7 Goes Black And White Microsoft Mocks Siri

Sat, 25 May 2013 11:38:41 -0400

Washington , D.C. this week to address a bi-partisan Senate subcommittee that criticized the company for using tax loopholes and keeping the majority of its cash overseas to avoid paying billions of dollars in U.S. taxes. Sen. Carl Levin and Sen. John McCain had harsh words for Apple in their opening statements and in the report assembled by the committee's staff detailing why Cook and co. ...

Billionaire under fire after suggesting motherhood destroys ambition

Sat, 25 May 2013 11:31:46 -0400

Paul Tudor Jones is one of the world's savviest investors, but the hedge fund billionaire and philanthropist is trying to explain comments about motherhood and high finance that are getting a lot of attention for all the wrong reasons. NBC's Andrea Mitchell ...

Memorial Day shopping do’s and don’ts

Sat, 25 May 2013 11:31:46 -0400

memorial day you see big furniture sales at the office superstars. time of year people have more money because they got their tax refund and furniture is one of the things they tend to ...

Girl Who Scolded McDonalds CEO Not Impressed

Sat, 25 May 2013 11:19:21 -0400

Hannah Robertson, 9, flew in with her mom from Kelowna, British Columbia, to attend McDonald's annual shareholder meeting Thursday in Oak Brook, Ill., the company's ...

Fed Concerns Contribute To Lackluster Session On Wall Street - U.S. Commentary

Sat, 25 May 2013 10:45:16 -0400

There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses.The Dow Jones Industrial Average gained 8.6 points, or 0.06 percent, to close at ...

Sony Microsoft or Nintendo Were In A Console Rut

Sat, 25 May 2013 10:39:31 -0400

week's Xbox One announcement . The "best" part of the hour long presentation was near the beginning, when it was demonstrated that the Xbox could flip seamlessly between television and the console with a simple voice or gesture command. The audience cheered as the screen flipped forward between a game and TV, and it did feel vaguely futuristic. But when you stop and think about ...

BP Shell Statoil in U.S. Lawsuit Over Alleged Oil Manipulation -FT

Sat, 25 May 2013 09:23:23 -0400

LONDON – BP PLC (BP.LN), Royal Dutch Shell PLC (RDSA.LN) and Statoil ASA (STL.OS) have been named in the first lawsuit to be filed following a European Commission antitrust investigation into alleged manipulation of oil prices and benchmarks, the Financial Times in London reported Saturday, citing legal documents.The oil majors were named as defendants in a class action filed in New York by ...

Proxy firms still powerful and free

Sat, 25 May 2013 08:19:56 -0400

From trouble with securities regulators, to a failed high-stakes attempt to shake upthe board at Wall Street giant JP Morgan Chase & Co. and a rising chorus of complaints they wield too much power -- shareholder proxy firms appear to be under attack. Are these revered investor warriors losing their power to influence boardrooms and critical votes such as takeovers? Advisory firms meekly ...

Stephen Poloz ‘The smartest guy in the room’

Sat, 25 May 2013 08:19:55 -0400

Mr. Poloz, 57, has been president and CEO of credit agency Export Development Canada, based in Ottawa, since 2011. He joined EDC, a self-financing Crown corporation, in 1999 as vice-president and chief economist, and was promoted to senior vice-president and chief economist in 2004. Prior to EDC, he spent five years with Montreal-based Bank Credit Analyst Research, an independent global ...

America’s HENRYs driving luxury goods boom

Sat, 25 May 2013 08:19:55 -0400

PARIS/NEW YORK -- Most men might balk at spending US$600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly commonplace. Ephraim is the kind of man who gives luxury goods makers high hopes that the U.S. market can fuel future growth, as China runs out of steam and demand in Europe sags. "There is a cultural ...

WWII Medals Back After Mistaken Donation

Sat, 25 May 2013 08:17:07 -0400

Memorial Day , a mystery that started with a surprise discovery by Goodwill in Missouri had a happy ending. A box of World War II medals, awards and other mementos was discovered by MERS/Missouri Goodwill earlier this week. Lewis Chartock, chief executive officer of MERS/Missouri Goodwill, said he believed the box was donated to Goodwill but was likely flagged by a processing person. Ron ...

How Credit Scores Predict Your Behavior

Sat, 25 May 2013 08:16:59 -0400

Credit scores, as with most attempts to make sense of our world, operate on the assumption that the near future will look a lot like the recent past, and that going forward, people can be expected to behave pretty much as they always have. That ...

France begins withdrawing from Mali

Sat, 25 May 2013 08:12:26 -0400

France began the first stage of a withdrawal from Mali Saturday in what it says is a plan to pull out most of its troops and equipment by the end of the year. A convoy carrying unneeded equipment and vehicles left a French base outside the capital, Bamako, headed for Abidjan ...

Why Jelly is good for small businesses

Sat, 25 May 2013 07:32:20 -0400

The Jelly support group for small businesses started when two freelances saw the benefits of teaming up with other home-workers. Photograph: Andrew ...

Finfacts v Irish Status Quo Corporate tax and property bubble taboos

Sat, 25 May 2013 07:31:39 -0400

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...

In Tornados Wake Look For Insurance Rate Hikes

Sat, 25 May 2013 07:29:32 -0400

tornado in Moore, Okla., is fixing to expand its reach. While insurance companies don't try to raise rates solely on the basis of a single storm or disaster, a series of disasters can push them to seek higher rates where the events took place. The past five years have seen numerous significant tornadoes, and with the Moore tornado coming shortly after several other serious ones ...

Danica Patrick From Race to Sponsorships

Sat, 25 May 2013 07:29:31 -0400

The Indy 500 runs on Sunday, and then there is the Coca-Cola 600 at the Charlotte Motor Speedway, where Nascar driver Danica Patrick will be racing. Patrick discusses how she prepares for a long ...

Muni Strategy Buy High Sell Low

Sat, 25 May 2013 07:29:31 -0400

Municipal bonds face trouble ahead that one expert compares to lava flowing from a volcano--that will ooze into the fixed-income sector. The $3.4 trillion muni industry faces a multitude of threats, ranging from the high-profile financial problems of big cities to tax challenges resulting from Washington budget negotiations. Consequently, Marilyn Cohen, president of Envision Capital Management, ...

Airline Stocks Taking Flight

Sat, 25 May 2013 07:24:35 -0400

Everyone is hitting the roads ahead of Memorial Day weekend. CNBC's Phil LeBeau reports on Delta's new terminal at JFK, and the airline index is up more than 50 percent this ...

Mayer on Potential Yahoo Acquisitions

Sat, 25 May 2013 07:24:31 -0400

Yahoo! CEO Marissa Mayer addresses whether the company has any immediate plans to acquire other companies. This interview originally aired May 21, 2013, on "Squawk on the ...

The Week That Was Dimons Good Week

Sat, 25 May 2013 07:24:30 -0400

CNBC's Tyler Mathisen looks back at the week's top business and financial stories. Bernanke's comments concerned investors. There was good housing news and Apple's Tim Cook faced the Senate's music. Also, Jamie Dimon held on to his dual ...

Sprint Deal a Matter of National Security

Sat, 25 May 2013 07:24:26 -0400

New York Senator Charles Schumer sent a letter to the FCC and the Treasury requesting more scrutiny of the recent Sprint deal with Japan's SoftBank. Derek Scissors, Heritage Foundation, weighs ...

Do Babies Destroy a Womans Ambition

Sat, 25 May 2013 07:24:24 -0400

Hedge fund billionaire Paul Tudor Jones made a comment in regards to female traders losing ambition after having children. Say What? Karen Finerman, Metropolitan Capital and CNBC's Michelle Caruso-Cabrera, share their ...

Summer Investing Advice From the Pros

Sat, 25 May 2013 07:24:23 -0400

David Darst, Morgan Stanley Wealth Management and Jeff Kleintop, LPL Financial, discuss market opportunities to help kick off your summer investing. "Buy some health care, and get some energy into the portfolio," says ...

Solutions to Bridge Road Woes

Sat, 25 May 2013 07:24:19 -0400

Thursday's collapse of a bridge in Washington has brought more attention to other bridges and roads that are in dire need of repair. David Doll, Sequent Asset Management, and Adam Babson, Russell Global Infrastructure, discuss what opportunities exist ...

Beef Prices Concern Traders

Sat, 25 May 2013 07:24:17 -0400

Beef demand is up, and supplies are down, reports CNBC's Jane Wells. One California rancher Bud Sloan is having to buy feed because of the drought, and has cut his herd nearly in ...

IRS Scandal The Political Fallout

Sat, 25 May 2013 07:24:11 -0400

Discussing the politics surrounding the IRS Scandal, with Noelle Nikpour, author of "Branding America"; Mark Levine, Democratic Policy analyst; Robert Costa, National Review; and Scott Rasmussen, Rasmussen ...

Lois Lerner Taking the 5th or Not

Sat, 25 May 2013 07:24:07 -0400

Discussing what's next for IRS official Lois Lerner, and whether it's time for an IRS special counsel, with Tom Curran, Peckar & Abramson and John Eastman, Chapman ...

Vogue of the speedway How motorsports improve what we drive

Sat, 25 May 2013 07:24:03 -0400

The rally car has allowed carmakers to conduct endurance testing on everything from engines to breaks. When the field lines up on the Indianapolis Motor Speedway track this weekend, they'll begin with a pace lap behind a 2014 Chevrolet Corvette Stingray driven by San Francisco 49ers coach Jim Harbaugh.Although Harbaugh might be more used to a gridiron than starting grid, he should feel at ...

Oddie Confronts HSBC Over Forest Desecration

Sat, 25 May 2013 07:21:52 -0400

Bill Oddie has accused HSBC of funding the desecration of forests in a passionate speech at the bank's annual general meeting in London. The naturalist used his position as shareholder to challenge the bank’s bosses over its links with firms operating in Borneo and Malaysia. Oddie, 71, who won fame in The Goodies, backs campaigners who say that HSBC is funding the destruction of ...

Photos A-Rod Sells Home for $30 Million

Sat, 25 May 2013 06:43:22 -0400

The New York Yankees third baseman sold his home in Miami Beach on Friday morning, according to ESPN.com reported. The home sold for $30 million and is one of the highest purchase prices for a home in Miami. It was previously listed for $38 million. A nearby home in a private island in Miami-Dade County sold for a record-breaking $47 million in Aug. ...

Video NYC tech tour Foursquare BuzzFeed MakerBot

Sat, 25 May 2013 06:21:14 -0400

Telescopes from NASA's Solar Dynamics Observatory captured video of two large solar flares erupting off of the sun, one of which was the largest of the ...

American Rights At Work Formal Complaint for FEC Investigation of Wal-Marts Unlawful Federal Election Activity

Sat, 25 May 2013 04:33:48 -0400

Formal Complaint for FEC Investigation of Wal-Mart's Unlawful Federal Election Activity WASHINGTON - August 14 - Today American Rights at Work, the AFL-CIO, Change to Win, and WakeUpWalmart.com will hand ...

India Resource Center Coca-Cola Plant Shut Down in India

Sat, 25 May 2013 04:33:47 -0400

Chinta Dewi, Coca-Cola Bhagao, Krishi Bachao Sangharsh Samiti +91 94507 79325 (Hindi) Nandlal Master, Lok Samiti +91 94153 00520 (Hindi) Amit Srivastava, India Resource Center +91 98103 46161 (India) +1 415 336 7584 ...

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation

Sat, 25 May 2013 04:33:47 -0400

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation WASHINGTON - August 14 - WakeUpWalMart.com today, along with American Rights at Work, Change to Win, and the American Federation of Labor and Congress of Industrial Organizations, jointly filed an official complaint with the Federal Election Commission. The groups filed the complaint of ...

Microsoft office goes cloud to join cloud war with Google Docs

Sat, 25 May 2013 04:29:21 -0400

The war on cloud intensified as Microsoft Office announced its decision on Tuesday to go cloud in an attempt to compete with its immediate but not last competitor, Google Docs.Microsoft holds a virtual monopoly on office productivity software. Most computer users in the world use the Office software for word processing, spreadsheet, presentation and other purposes. However, Microsoft Office faces ...

Wall Street betting on last-minute debt deal

Sat, 25 May 2013 03:17:48 -0400

With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close fast,political ...

Doomsayers warn of approaching bear market

Sat, 25 May 2013 02:45:52 -0400

As share prices soared across the globe this week - before crashing down in Tokyo - one group of doomsayers consistently stuck to their message: the market boom is on shallow foundations and the crash will be worse than ever.Albert Edwards, Britain's most persistent "Dr Doom" - and one closely connected to the heart of the financial system through his job as strategist at ...

How to buy and sell shares … come boom or doom

Sat, 25 May 2013 02:45:50 -0400

stock markets recently hit levels not seen since the dotcom boom of 2000, then tumbled after a dramatic sell-off in Tokyo. What should investors do? Pick up some bargains marked down in the sell-off? Or junk ...

Car insurance one bump and your old car could be on the scrapheap

Sat, 25 May 2013 02:45:48 -0400

car insurance following a minor bump. The warning comes after one London motorist had her vehicle written off following the smallest of accidents, in which just the side light on her ageing Toyota was broken.Lesley Hall, who lives in London, was told by her insurer, Cova, that it would send her a cheque for just 40 for her perfectly usable and very reliable L-registration Corolla, after an ...

Downtown East in Minneapolis poised for second chance

Fri, 24 May 2013 23:32:47 -0400

The $400 million project and the $975 million stadium now in the works have created a buzz that maybe -- finally -- Downtown East will attract residential development that could help transform the area in a way that the Metrodome never did more than 30 years after its ...

China sees wider role for private business

Fri, 24 May 2013 23:32:46 -0400

Chinese Prime Minister Li Keqiang reacts at the end of a press conference after the signing ceremony of several agreements between Switzerland and China, in Kehrsatz near Bern, Switzerland, Friday, May 24, 2013. Chinese Premier Li Keqiang is in Switzerland to seal a free trade pact with the Alpine nation ? the first comprehensive agreement his country has reached with a major western economy. Li ...

St. John’s sells NYC campus

Fri, 24 May 2013 23:29:55 -0400

St. John’s University agreed to sell its lower Manhattan campus to a group including developer Steven Witkoff and property investor Fisher Brothers, which plan to build condominiums there. Selling the property at 101 Murray St. will give the university a "major infusion of capital," President Donald Harrington said yesterday. Proceeds will be used for student financial aid, ...

Kid gloves for hedgie

Fri, 24 May 2013 23:29:55 -0400

Women working in the hedge-fund world know how hard it is for them to get ahead.That could explain why so few of them were willing to speak out against hedge fund legend Paul Tudor Jones, whose recent comments that having babies turns women into lousy traders kicked off a storm of controversy on Thursday. Hedgie women sprang to the defense of Jones, 58, who founded Tudor Investment Corp. in 1980, ...

News Corp. bd. OKs split

Fri, 24 May 2013 23:29:55 -0400

News Corp. said its board approved a plan to split the company’s entertainment and publishing assets into separate companies. The company expects to complete the split by June 28. The board also authorized a $500 million stock-repurchase program for the new publishing company, which will retain the News Corp. name. News Corp. owns The Post. The company said it would book a pretax charge of ...

No InterOil delivery could burn Paulson

Fri, 24 May 2013 23:29:54 -0400

While he’s still licking his wounds from the Sino-Forest scandal, hedge-fund titan John Paulson has waded into another controversial stock. The founder of $18 billion Paulson & Co. scooped up 1.87 million shares of InterOil Corp. in the first quarter, making him the company’s eighth-largest shareholder, with a stake worth roughly $160 million. InterOil has been touting its access ...

$20M pay won’t fly

Fri, 24 May 2013 23:29:54 -0400

The US is opposing American Airlines’ proposal for $20 million severance pay to CEO Tom Horton as part of its merger with US Airways Group. It violates bankruptcy law, the Justice Dept. said yesterday in a New York court ...

Yahoo joins the $1B hunt for Hulu

Fri, 24 May 2013 23:29:54 -0400

Yahoo! has jumped into the bidding for Web video destination Hulu, The Post has learned. Sources close to the process say the bid from Yahoo!, along with offers from a handful of other suitors, value Hulu at upward of a billion dollars. If Yahoo prevails, it would be CEO Marissa Mayer’s second $1 billion deal inside a month. The company just acquired micro-blogging service Tumblr for $1.1 ...

US stocks remain weak on track for weekly loss

Fri, 24 May 2013 23:25:04 -0400

US stocks remained weak in midday trading on Friday, extending losses for the third straight day despite better-than-expected US durable goods data for April.The three major indices are on track for its first weekly decline after four weeks of gains.In the previous trading day, the major stock indices closed lower for a second consecutive day following a dramatic slump in the Japanese stock ...

Working Americans turn down pay raise to avoid ‘cliff effect’

Fri, 24 May 2013 23:17:24 -0400

NBC News' Lester Holt investigates a double bind for a growing number of Americans. Some hard-working people are grappling with an economic "cliff effect" where a pay raise can actually make them worse off while also costing taxpayers at the same ...

Key Government Projects At Risk Of Failure

Fri, 24 May 2013 23:15:01 -0400

Dozens of major Government projects including the High Speed 2 rail line, Universal Credit welfare reform and the rollout of high-speed broadband are at serious risk of failure, Whitehall documents reveal. There are 23 schemes which have had amber/red warning flags raised against them in the report, meaning successful delivery of the project is in doubt and urgent action needs to be taken to ...

YouTube Users Turning Clicks Into Cash

Fri, 24 May 2013 23:15:01 -0400

Not long ago, a Top 10 hit on iTunes wouldn't have been possible without the backing of a major record company, but social media has changed the rules. Lanzarote-based Irish singer-songwriter Rory Gallagher embraced this change and made it to number one in the charts after one of his songs was leaked online. Jimmy's Winning Matches became an overnight viral sensation on YouTube, ...

Chinese premier criticizes EU move on trade measures

Fri, 24 May 2013 23:10:48 -0400

Chinese Premier Li Keqiang speaks during a joint news conference with Pakistan's President Asif Ali Zardari (not in picture) at President House in Islamabad May 22, ...

Minnesota farmers recover from late planting start

Fri, 24 May 2013 22:25:58 -0400

Despite a winter that never seemed to end, Minnesota farmers are going into Memorial Day weekend with a good percentage of their crop planted -- a better outcome than feared a month ...

Target other retailers sue credit card firms

Fri, 24 May 2013 22:25:57 -0400

NEW YORK - Target Corp., Macy's Inc. and 15 other retailers sued Visa Inc. and MasterCard Inc. over credit card and debit card fees after dropping out of a multibillion-dollar settlement of a similar case. The biggest U.S. payment card firms illegally restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers ...

Insurers submit plans for Minnesota health care exchange

Fri, 24 May 2013 22:25:56 -0400

Consumers buying health care coverage this fall on Minnesota's new insurance exchange likely will have more choices than are currently available, bringing a spark of competition as health reform rolls out in the months ...

Wall Street snaps four-week winning streak

Fri, 24 May 2013 22:15:29 -0400

U.S. stocks were traded almost flat Friday to end the week lower, snapping a four-week gaining streak amid worries that the Federal Reserve may reduce its stimulus program in ...

Lobbying in American-US Airways deal focuses on small cities

Fri, 24 May 2013 22:03:40 -0400

AAMRQ.PK ), seeking approval for a merger that would create the world's largest airline, are warning lawmakers that a requirement to divest certain airport slots would lead to less service for small and medium-sized cities, sources close to the effort told ...

As grocers restaurants bicker many U.S. menus still lack calorie counts

Fri, 24 May 2013 21:17:38 -0400

The Food and Drug Administration hopes to have the regulations in place later this year. Restaurants would likely have six months from then to ...

Stalking the wildly cute koala

Fri, 24 May 2013 21:17:11 -0400

Opening just in time for Memorial Day weekend, the San Diego Zoo's new Conrad Prebys Australian Outback exhibit has twice as much space as the old koala exhibit, with room for bulldozing wombats, cackling kookaburra and snoozy wallabies. Not to mention more koalas and many more places to watch them do what koalas ...

Slacker Internet radio picks up the pace

Fri, 24 May 2013 21:17:11 -0400

Internet radio outfit Slacker detected a touch of gray in its service last year. The retro/biker dashboard player for Web and mobile listeners essentially had gone unchanged since the San Diego company was founded in ...

Market Snapshot Bears cite performance chasing as stocks rise

Fri, 24 May 2013 21:13:03 -0400

"My experience is when managers are overly focused on performance on a near-term basis, and worried they're missing out, it means they're buying stocks for the wrong reasons," said Brian Belski, chief investment strategist at BMO Capital ...

Source Xbox Ones Heart-Sensing Tech Not Microsofts Idea

Fri, 24 May 2013 21:09:30 -0400

has baked into the forthcoming Xbox One is the new Kinect sensor's ability to read your heart rate, which it does optically using a system similar to (or even based ...

Scorecard Hows Bill Ackman Doing

Fri, 24 May 2013 21:07:11 -0400

(Around the time the consumer products giant announced that Mr. McDonald would retire, Mr. Ackman was speaking with a class of University of Chicago business school students, with his phone off. When he turned it back on, his voice mail in-box was overflowing with ...

Visa and MasterCard Seek Fee Approval

Fri, 24 May 2013 21:07:11 -0400

MasterCard , opening another front in an eight-year battle over credit card fees paid by retailers, on Friday asked a federal judge to declare that the fees do not violate antitrust law. The lawsuit seeks to give the card companies legal ammunition against some retailers who are trying to opt out a proposed settlement under which they would receive a share of $7.2 billion in cash and fee ...

News Corp to take charge of up to $1.4 billion this quarter

Fri, 24 May 2013 20:11:32 -0400

said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion (925.4 million pounds), as the company prepares to split its business between its newspaper and entertainment operations.The company said the goodwill impairment charge was primarily for its Australia newspapers though it gave no more details. It also said it expected reduced cash flows ...

After San Onofre ruling nuke-safety group presses advantage

Fri, 24 May 2013 20:09:00 -0400

Spurred on by a ruling on the significance of safety problems at the San Onofre Nuclear Generating Station, the international environmental group Friends of the Earth has redoubled efforts to establish trial-like public hearings on a proposal to restart the power ...

Coast Highway improvements nearly complete

Fri, 24 May 2013 20:08:58 -0400

A nearly yearlong overhaul of Coast Highway 101 in Solana Beach is heading down the home stretch, and local merchants -- at least those who survived a drastic drop in business during the construction -- couldn't be ...

Why Democrats Cant be Trusted to Control Wall Street

Fri, 24 May 2013 20:07:18 -0400

Who needs Republicans when Wall Street has the Democrats? With the help of congressional Democrats, the Street is rolling back financial reforms enacted after its near meltdown. According to ...

Top Ten MarketWatch’s top 10 stories May 20-24

Fri, 24 May 2013 20:05:18 -0400

-2.61% shares soared after the company reported financial results that outpaced analyst expectations, but those analysts warned that the "turnaround" tale at the high-tech giant may not have a happy ...

Jersey Shore Ready for Summer After Sandy

Fri, 24 May 2013 19:59:44 -0400

Almost seven months after being devastated by super storm Sandy, the Jersey Shore is looking to rebound as the summer season gets underway this Memorial Day weekend, reports CNBC's Kayla ...

Microsoft still stamping out used games fire

Fri, 24 May 2013 19:57:58 -0400

Xbox reveal , though the company did not unveil every bit of information that customers were waiting for. For instance, we still do not know pricing or release date. However, the biggest urbanlegend in circulation -- that of used games -- is under attack from the console maker. On the day of the big reveal, Larry Hrybtook to his blog to assure users "While there have been many potential ...

Wall Street Week Ahead Investors look for signs in the rallys break

Fri, 24 May 2013 19:47:43 -0400

NEW YORK (Reuters) - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward ...

Ex-Virginia bank executives guilty in financial crisis case

Fri, 24 May 2013 19:47:42 -0400

(Reuters) - The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday on bank fraud conspiracy and other charges for concealing loan losses in a scheme that contributed to he bank's 2011 ...

Visa MasterCard Strike Back at Swipe-Fee Settlement Foes

Fri, 24 May 2013 19:44:35 -0400

Visa Inc. (V) and MasterCard Inc. (MA) are firing back at retail trade groups trying to derail a pending $7.25 billion settlement over so-called merchant swipe fees.The world's largest payment networks asked a federal judge Friday to rule that their practices for setting fees paid by merchants that accept credit and debit cards aren't anticompetitive, which could limit the type of ...

MARKET SNAPSHOT U.S. Stocks Break Four-week Winning Streak

Fri, 24 May 2013 19:44:34 -0400

NEW YORK – U.S. stocks fell for the first week in five as the prospects of the Federal Reserve starting to reduce its bond-buying stimulus rattled a market trading at historic highs.Friday's losses, however, were mild as investors found some support from a stronger-than-forecast report on demand for big-ticket purchases and after the prior session's improvement in jobless ...

Argentinas Stocks End Lower Blue Dollar Strengthens

Fri, 24 May 2013 19:44:34 -0400

Argentine stocks fared poorly Friday in light trading while the black-market dollar continued to strengthen on media reports that banks will further restrict the ability of customers to withdraw cash while overseas.The Merval index fell 1.34% to 3,509.72 in volume totaling ARS31.3 million ($5.9 million).The power company Pampa Energia SA (PAM, PAMP.BA) led the declines, sliding 3.4% to ARS1.14. ...

ACC leads good economic news at National party convention

Fri, 24 May 2013 19:24:28 -0400

The Accident Compensation Corporation's Earners and Work Accounts are now fully funded ACC Minister Judith Collins has told National Party members at their Northern Regional Conference today. Ms Collins' gave party members the "very good news" shortly after Associate Finance Minister Jonathan Coleman gave an opening speech exhorting them to explain to the public how last week's Budget ...

Wal-Mart turns to green dots to ensure stores stay stocked

Fri, 24 May 2013 19:03:19 -0400

Wal-Mart Stores Inc. is seeking to address its stocking problem by linking it to executive pay while developing a green-dot program to let workers know which items to focus on.The retail giant, which has reduced the number of workers at its stores, has struggled recently to keep shelves fully stocked. That, in turn, has hurt sales and driven away frustrated shoppers -- a black eye for a company ...

Shareholders are flexing muscles over issue of high executive pay packages

Fri, 24 May 2013 19:02:42 -0400

A consultant advised shareholders to vote “no” this year on Coca-Cola CEO Muhtar Kent’s $30.5 million pay package. The company responded with a plan to cap bonus awards if stock returns are ...

Top UCSD center named Qualcomm Institute

Fri, 24 May 2013 19:02:14 -0400

A University of California San Diego institute that's emerged as a leader in finding better ways for people to communicate, stay healthy and protect the environment was named Friday after its largest benefactor, chipmaker ...

Stocks to Watch Stocks to watch Tiffany United Natural Foods

Fri, 24 May 2013 18:58:55 -0400

SAN FRANCISCO (MarketWatch) -- Tiffany & Co. and United Natural Foods will be among the stocks to watch Tuesday after the three-day holiday ...

Should You Pay Someone to Manage Your 401

Fri, 24 May 2013 18:53:02 -0400

Fidelity says the average 401(k) balance topped $80,000 for the first time in Q1, reports CNBC's Sharon Epperson. Niall Gannon, The Gannon Group, and Patricia Powell, Powell Financial Group, ...

Visa Mastercard ask U.S. court to declare card fees are lawful

Fri, 24 May 2013 18:40:41 -0400

An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, ...

Man at centre of SNC-Lavalin fraud allegations was key hire by company

Fri, 24 May 2013 18:36:35 -0400

MONTREAL - When SNC-Lavalin Group Inc. chief executive Jacques Lamarre met a hot-shot engineer named Sami Bebawi for dinner in mid-1998, he was looking for someone who could help turn around the company’s money-losing construction unit after years of ...

Take A Secret Look Inside The Cocoon As A Caterpillar Transforms To A Butterfly

Fri, 24 May 2013 18:36:34 -0400

0 The transformation of a lowly caterpillar into a graceful butterfly is the kind of shocking fact of nature that's used to get children excited about science, so visible is the transformation, so tangible are the lessons. But what's actually going on inside the cocoon? Typically, scientists have had to dissect them to find out, killing the organism inside as a result, a casualty of ...

Stocks trade flat market ends week lower for the first time since April

Fri, 24 May 2013 17:53:39 -0400

Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange Monday, April 29, 2013. Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday May 15, 2013. But lower-than-expected German economic growth disappointed investors elsewhere. (AP Photo/Richard ...

Metals and agricultural futures prices slip energy futures end mostly lower

Fri, 24 May 2013 17:53:38 -0400

Metals prices ended slightly lower Friday, as did agricultural futures. Crude oil ended the week down 2 percent as traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program. Gold for June delivery fell $5.20 to $1,386.60 an ounce. Other metals prices also fell. July silver fell 1.2 cents to $22.496 an ...

Jersey shore is back open for business

Fri, 24 May 2013 17:49:46 -0400

The Jersey shore is ready for its first Memorial Day since Hurricane Sandy. CNBC's Kayla Tausche, Weather Channel meteorologist Kelly Cass, and TripAdvisor.com's Brooke Ferencsik joins The Cycle team to talk about the area's recovery and how to beat the holiday travel ...

Energy Stocks Energy stocks fall end week off 0.5

Fri, 24 May 2013 17:49:45 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks fell Friday, ending the week with a loss of 0.5% as gains earlier in the week cushioned heavy losses in recent trading ...

Iceberg Picnic Goes Wrong in Iceland

Fri, 24 May 2013 17:43:27 -0400

A group of American tourists have been rescued from a drifting Icelandic iceberg that broke off from land as they were trying to picnic upon it, complete with folding chairs and table. The five imperiled picnickers are safe, plucked by a small rescue boat from the ice slab floating atop deathly frigid waters of the Fjallsrln glacial lagoon in Iceland, five-and-a-half hours east of Reykjavik. ...

Bridge Collapse Will Slam Local Economy

Fri, 24 May 2013 17:43:26 -0400

The collapse of a bridge on a major West Coast highway could cost the state of Washington at least $47 million in lost economic output, as well lost jobs and tax revenues similar to the impact of a flood five years ago that also shut down another section of the road, officials said Friday. Brian Bonlender, director of the State Department of Commerce, said it would be difficult to pinpoint the ...

Wal-Mart to sell Fatburger patties

Fri, 24 May 2013 17:38:46 -0400

NEW YORK (AP) -- Fatburger, a chain with a devoted following on the West Coast, said Friday it will sell its branded frozen beef patties in Walmart stores nationwide.The Beverly Hills, Calif.-based chain said the beef patties are in select stores now and will roll out nationally over the next several weeks.Fatburger, which was founded in 1952, has about 150 locations globally; half of those are ...

Infoblox profit forecast beats estimates shares rise

Fri, 24 May 2013 17:31:36 -0400

BLOX.N ) reported a better-than-expected quarterly profit on higher demand for its network automation products and forecast current-quarter earnings above analysts' ...

Justice Department opposes AMRs $20 million severance for CEO Horton

Fri, 24 May 2013 17:31:32 -0400

LCC.N ) is coming under fire from the U.S. Department of Justice over nearly $20 million in severance pay earmarked for outgoing boss Tom ...

Bausch Lombs Ista pleads guilty over kickbacks

Fri, 24 May 2013 17:31:31 -0400

(Reuters) - Ista Pharmaceuticals Inc WPRISI.UL pleaded guilty on Friday to charges it used kickbacks and improper marketing to boost sales of a drug meant to treat eye pain and agreed to pay $33.5 million to settle criminal and civil liability, the U.S. Department of Justice ...

Tech Stocks Salesforce Google losses hit tech stocks

Fri, 24 May 2013 17:29:28 -0400

SAN FRANCISCO (MarketWatch) -- A sharp drop in shares of Salesforce.com sparked a slump across the corporate-software-vendors group and led the broader tech sector into the red ...

Markets Post Weekly Loss Snap Four-Week Streak

Fri, 24 May 2013 17:28:33 -0400

FOX Business: Capitalism Lives Here The S&P 500 slid more than 1% this week in its first weekly loss in five amid worries about when the Fed will begin tapering its vast asset-purchase program. Today's Markets The Dow Jones Industrial Average rose 8.6 points, or 0.06%, to 15303, the S&P 500 dipped 0.91 point, or 0.06%, to 1650 and the Nasdaq Composite slipped 0.28 point, or 0.01%, ...

Colombia Stocks Rise Led by Banco de Bogota Peso Weakens

Fri, 24 May 2013 17:28:32 -0400

BOGOTA, Colombia – Colombian stocks rose Friday, led by a rise in banking stocks, while the peso plunged to a 16-month low.The Colcap index, a benchmark for the Colombian Stock Exchange, rose 0.3% to end at 1,704.66 points. Shares of financial firm Banco de Bogota rose 2.8% to COP70,000.Colombia's currency, the peso, ended at COP1,878.95 for a dollar, from COP1,865.99 a day earlier. ...

Norway Oil Fund Voted to Separate J.P. Morgan Posts

Fri, 24 May 2013 17:28:31 -0400

The leadership of Norway's $740 billion oil fund voted at J.P. Morgan Chase's (JPM) annual meeting to separate the roles of chief executive and chairman at the bank, Norges Bank Investment Management chief executive Yngve Slyngstad said Friday.After facing some criticism in national media for keeping his voting secret on whether Jamie Dimon should remain as both CEO and chairman of the ...

Microsoft refutes reports about Xbox One used game sales

Fri, 24 May 2013 17:27:07 -0400

Xbox One unveiling Tuesday, gamers have wondered how Microsoft will handle the resale of used games for the system. In the absence of a clear answer, speculation and rumors have flooded the Web. Microsoft is now telling gamers that the speculation and rumors aren't true. But it's not saying what the new policy will ...

US stocks flat as bulls get cautious

Fri, 24 May 2013 16:46:43 -0400

NEW YORK (AFP) - US stocks closed flat Friday, reeling in early losses but showing caution following Japan's Thursday plunge and ahead of the three-day US Memorial Day holiday weekend.At the closing bell, the Dow Jones Industrial Average added 9.06 points (0.06 percent) at 15,303.56.The broad-based S&P 500 was down 0.88 (0.05 percent) at 1,649.63, while the tech-rich Nasdaq Composite ...

The close TSX slightly higher Wall Street mixed

Fri, 24 May 2013 16:46:38 -0400

The Toronto Stock Exchange closed slightly higher, pulled down by declines in most sectors, particularly gold, but boosted by a 13 per cent spike in shares of Valeant Pharmaceuticals International.The S&P/TSX composite index finished up 9.13 points at 12,667.22. The Canadian dollar was down 0.25 of a cent to 96.89 cents ...

Stocks fade on Wall Street post their first weekly loss in a month

Fri, 24 May 2013 16:44:42 -0400

NEW YORK - Stocks prices are closing mostly lower on Wall Street, giving the market its first weekly loss in a month. The Dow Jones industrial average edged up eight points to 15,303 Friday, a gain of 0.1 percent. The Dow was supported by a big gain in Procter & Gamble. The Standard & Poor's 500 fell a point to 1,649, or 0.1 percent. The market had its first weekly loss in five ...

Oil finishes week down 2 percent on concerns about global demand Feds next move

Fri, 24 May 2013 16:44:41 -0400

NEW YORK - The price of oil fell 2 percent this week, as oil traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program. The loss Friday was just 10 cents, to $94.15 a barrel. But four straight losses resulted in a weekly decline of $1.87 a barrel for the benchmark oil contract. The global economic ...

IMF chief named key witness in French payoff case

Fri, 24 May 2013 16:44:28 -0400

International Monetary Fund chief Christine Lagarde arrives for a second day of the court hearing at a special court house, in Paris, Friday, May 24, 2013. Lagarde faced questioning at a special Paris court Friday over her role in the 400 million euro ($520 million) pay-off to a controversial businessman when she was France's finance minister. (AP Photo/Thibault ...

Why arent more homeowners selling

Fri, 24 May 2013 16:44:16 -0400

The share of San Diego County borrowers who are underwater on their mortgages continues to fall due to home-price gains, says a recent analysis from real estate website Zillow. So why aren't more homeowners freed from negative equity listing their homes in this supply-constrained ...

Sears CEO Lampert terse on $279M in red ink

Fri, 24 May 2013 16:41:49 -0400

Eddie Lampert is finally breaking his silence, but he still seems to have trouble saying, "Ship Your Pants."The notoriously tight-lipped hedge-fund tycoon, who took over as CEO of Sears Holdings in February, made a rare conference-call appearance yesterday after the retailer reported a wider-than-expected loss.The Yale-educated billionaire was notably stiff during the call, with a ...

Some Hulu bigs flee as sale proceeds

Fri, 24 May 2013 16:41:48 -0400

The No. 1 thing being streamed by Hulu these days just may be anxiety.As first-round bids for the big premium online video destination were due yesterday, recent changes to the 6-year-old venture’s business model have left many employees of the firm jittery - and some heading for the exits, The Post has learned."Everyone is looking for jobs," one West Coast source told The Post ...

Microsoft Cleared of Xbox Patent Violation

Fri, 24 May 2013 16:38:14 -0400

Motorola Mobility, which is owned by Google, had asked the US International Trade Commission in 2010 to halt the import of the device due to the alleged patent violation. The case was part of a broader patent war between the companies. Microsoft claims that phones running Google's Android software violate its patents, while Google says ...

Watching Risk-Reward Ratios Economic Data Still Positive - But Rate is Slowing

Fri, 24 May 2013 16:36:44 -0400

Risk-reward ratios are on our radar screen these days as we review the most recent economic data against the backdrop of recent market movement. This is not to say that we are in any way suggesting a top, a bear market, or even that a correction is on the horizon, even taking into account this past week's movement and volatility--although each of these scenarios remains a possibility. At ...

US STOCKS-Wall St posts 1st weekly loss since mid-April on Fed angst

Fri, 24 May 2013 16:35:47 -0400

Fri May 24, 2013 4:35pm EDT * S&P 500 slips but well off lows as investors buy on the dip * P&G shares jump after CEO replacement * Investors anxious about Fed's possible stimulus exit * Dow up 0.1 pct; S&P 500 down 0.1 pct; Nasdaq flat By Angela Moon NEW YORK, May 24 (Reuters) - The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first ...

A First Per-Student Spending Down at Schools

Fri, 24 May 2013 16:34:48 -0400

The amount of money spent per public school student fell in 2011 for the first time since the Census Bureau began keeping records more than three decades earlier, as economic woes finally caught up with educational realities. "This is clearly the fallout from the Great Recession," said Michael Petrilli, executive vice president of the Thomas B. Fordham Institute, a conservative ...

Banks Violated Mortgage Pact NY AG

Fri, 24 May 2013 16:34:47 -0400

Wells Fargo and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman, who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal, said other states had found similar problems. "Several other states have identified similar recurring deficiencies by the participating servicers," ...

Falcones Helicopter Heads to Hamptons

Fri, 24 May 2013 16:34:46 -0400

One of the incoming flights we noticed today is a helicopter that belongs, in part, to former hedge fund titan Philip Falcone. It's not a Harbinger Capital asset, by the way. Falcone personally is listed as one of the owners. ...

Wall Street is writing its own regulation bill

Fri, 24 May 2013 16:30:31 -0400

USA Bank lobbyists have a direct influence on financial legislation drafted in Congress, and are in some cases even writing the measures themselves. Citigroup this month drafted a regulation bill that has already passed through a House committee. To soften financial regulations, bank lobbyists frequently 'assist' lawmakers in writingdraft legislation that serves to benefit them at ...

Xbox One uncertainty earnings drag down GameStop

Fri, 24 May 2013 16:25:19 -0400

Xbox 360 games won't work with the Xbox One Neither of those factors are pleasing investors, who had sent shares soaring more than 100 percent over the past 12 months through last Friday. GameStop's shares tumbled 11 percent Friday to $32.10, putting the week's drop at 19 percent. Particularly worrisome is what GameStop's business will look like if it becomes more ...

Exclusive Mall owner General Growth eyes NYs Madison Ave - sources

Fri, 24 May 2013 16:22:37 -0400

Attendees pass by the General Growth Properties booth during the International Council of Shopping Centers convention in Las Vegas, May 18, ...

Canada International Reserves Down $68 Million in Week Ended May 23

Fri, 24 May 2013 16:19:46 -0400

Canada's official international reserves fell $68 million in the week ended May 23, the Bank of Canada reported on its website.At May 23, the official international reserves totaled $70.703 billion, compared with $70.771 billion at May 15.The reserves included:-U.S. dollars, $38.878 billion;-other foreign currencies, $18.848 billion;-gold, $141 million;-special drawing rights, $8.458 ...

PRECIOUS METALS HIGHLIGHTS Top Stories of the Day

Fri, 24 May 2013 16:19:43 -0400

TOP STORIES South Africa Mines Minister Says National Union of Mineworkers 'Under Siege'JOHANNESBURG--South Africa's mining minister seemed to take sides Friday in a contentious labor union battle, even as labor tensions remain high between rival unions at the country's mines.STORIES OF INTEREST 2nd UPDATE: Barrick's Pascua-Lama Mine Halted by Chilean ...

A larger issue at much lower rates Empire Life cleans up

Fri, 24 May 2013 16:18:22 -0400

Four years after tapping the debt markets, The Empire Life Insurance Co. has returned with a similar structure but this time out will it enjoy the benefits of both lower interest rates and a lower spread relative to the benchmark, the yield on five-year bonds issued by the government of Canada. In May 2009, the Kingston-based insurer that’s part of the E-L Financial Group, raised ...

Wall Street on track for first losing week since mid-April

Fri, 24 May 2013 16:15:04 -0400

US stocks mostly declined for a third day, putting indexes on track, on lingering concern that the US central bank may scale back its stimulus ...

UPDATE 1-U.S. audit regulator reaches deal with China on document access

Fri, 24 May 2013 16:14:14 -0400

Fri May 24, 2013 4:14pm EDT * U.S.-China deal reached after years of negotiations * Deal will pave way for auditor enforcement actions * U.S. had been blocked from probing Chinese audit failures By Dena Aubin and Sarah N. Lynch NEW YORK, May 24 (Reuters) - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of ...

US STOCKS SNAPSHOT-Wall St wanes on Fed uncertainty SP dips for 3rd day

Fri, 24 May 2013 16:10:46 -0400

NEW YORK | Fri May 24, 2013 4:10pm EDT NEW YORK May 24 (Reuters) - The S&P 500 declined for a third day on Friday with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. The Dow Jones industrial average edged up 8.60 points, or 0.06 percent, to ...

News Corp. to split into two businesses June 28

Fri, 24 May 2013 16:10:27 -0400

The British media company News Corp. announced Friday it will officially split its publishing and entertainment businesses June 28. The publishing firm will retain the name News Corp., the entertainment arm will be called 21st Century Fox, and both will be headed by current Chairman and Chief ...

Chile fines Barrick $15.8M over gold mine project

Fri, 24 May 2013 16:10:22 -0400

Mining company Barrick Gold Corp. was fined $15.8 million Friday by the Chilean government for allegedly violating environmental controls at its flagship mine. Barrick halted construction last month at the Pascua-Lama mine's Chilean operations after government officials ordered the company to stop work because of "serious violations" of environmental standards that followed ...

Chapter 11 reorganization for Pa. youth mental health facility

Fri, 24 May 2013 16:10:19 -0400

A Pennsylvania facility treating troubled and autistic children in several states filed for Chapter 11 reorganization due to a $240 million debt, officials say. William Isemann, chief executive officer of KidsPeace, blamed the move on the non-profit's $101 million in pension obligations, The Morning Call newspaper in Allentown, Pa., reported. At its peak in 2006, KidsPeace was a $170 ...

Americans plan summer vacations but with incomes stagnant some families keep trips modest

Fri, 24 May 2013 15:33:39 -0400

NEW YORK - This summer, high rollers are flying to lavish hot spots for their vacations. The rest of us are driving to less luxurious places like nearby campgrounds. The good news: At some U.S. campgrounds these days you get live bands, air guitar contests and chocolate pudding slip `n slides. Americans' plans for summer travel mirror the current state of the economy. Rising home prices ...

Yahoo among bidders for Hulu sources

Fri, 24 May 2013 15:30:44 -0400

Yahoo! jumped into the bidding today for Web video destination Hulu, The Post has learned. Sources close to the process say the bids from Yahoo! and half a dozen other suitors value Hulu north of a billion dollars. If Yahoo is successful, it could be CEO Marissa Mayer’s second $1 billion deal inside a month. The company just acquired micro-blogging service Tumblr for $1.1 billion.Yahoo said ...

How the smartphone killed the three-day weekend

Fri, 24 May 2013 15:29:50 -0400

By Bob Sullivan, Columnist, NBC News Memorial Day weekend marks the beginning of summer and all it evokes: vacations, slower workweeks, casual dress codes, getting the pool ready and pulling out the outdoor furniture.It would seem an ideal time to take a break, but our ability to unplug and relax is under assault. A three-day weekend? We can barely get through three waking hours without working, ...

Weird weather a boon for BrandAlley

Fri, 24 May 2013 15:26:10 -0400

Model Amy Hannam has some last minute adjustments made at the BrandAlley garden at the Chelsea flower show in London. Photograph: Andrew ...

Rupert Murdoch plans to poison News Corp takeover bids

Fri, 24 May 2013 15:26:09 -0400

The plan will act as a powerful disincentive to anyone seeking to challenge Rupert Murdoch's control of the two companies. Photograph: Facundo ...

Vince Cable The traditional high street banks have forgotten how to lend

Fri, 24 May 2013 15:26:07 -0400

When Jonathan Eddy wanted finance for his Basingstoke-based business, one of the traditional high street banks offered him a competitively priced loan - but then threw in fees that made it too expensive for him to proceed. Eddy, managing director of Asset Advantage, has a clear view why. "The traditional high street banks have forgotten how to lend," he ...

Energy suppliers held back gas during UK shortage

Fri, 24 May 2013 15:26:06 -0400

gas in storage tanks at a time when the market ran into an acute shortage two months ago, triggering a doubling of wholesale prices.The revelations came after claims the UK was within six hours of running out of gas completely on 22 March and will feed rising public and political anger over soaring power bills and previous allegations of market manipulation.The National Grid, which keeps data on ...

METALS OUTLOOK Gold Market To Watch Economic Data Options Expiration

Fri, 24 May 2013 15:25:41 -0400

Ben Bernanke on Wednesday regarding the fate of the Fed's bond-buying program. Worries that the Fed will taper off its asset purchases to stimulate the U.S. economy have hit gold and other markets, and the results of economic data releases will color traders' perceptions of what the Fed might do with the program. Market participants said they'll also watch to see how the Comex ...

Motherhood and Trading Are Doable

Fri, 24 May 2013 15:23:32 -0400

If a man will never share it, how can Jones know what it does to a woman's psyche? Paul Tudor Jones is a macro trader of obvious skill and intellect, but I wonder if he has even considered the possibility that his statement might not hold water over time. One could have said something similar years ago about doctors. Today there are just as many women graduating medical school as men. ...

Cut the Hassles of Summer Travel

Fri, 24 May 2013 15:23:32 -0400

There's a lot that can go wrong on a summer vacation. You can pay too much for a plane ticket, get stuck in a lousy hotel or get sick in a foreign country. The best way to reduce your odds of having a vacation nightmare is to plan ahead and know how to work the system. If you're looking for a travel deal, like to cruise and aren't worried about a rash of recent problems at ...

Beware Postcards Promising Free Trips

Fri, 24 May 2013 15:23:31 -0400

Baited mousetraps are landing in mailboxes around the country in the form of postcards and letters promising two round-trip airline tickets plus a hotel room or a free cruise if you call a toll-free number right away. These "award notices" often include the names of major airlines and well-known hotels. But the real companies have nothing to do with the notices. "These are ...

Fixing Bridges Corporate Taxes Op-Ed

Fri, 24 May 2013 15:23:31 -0400

one estimate , there are more than 68,000 "structurally deficient" bridges in America. Another report suggest we need to spend more than $20 billion annually just to work through our bridge backlog by ...

European stock markets steadier after sharp drop

Fri, 24 May 2013 15:23:29 -0400

LONDON/HONG KONG--European stock markets rebounded modestly on Friday, following sharp losses suffered the previous day, failing to record bigger gains despite positive German economic ...

Oil market slips ahead of US economic data

Fri, 24 May 2013 15:23:28 -0400

Brent North Sea crude for delivery in July dipped nine cents to US$102.35 a barrel, one day after striking a three-week low at US$100.64 on the back of poor Chinese economic data. New York's main contract, light sweet crude for July, slipped 35 cents to US$93.90 a barrel. Dealers meanwhile set aside news of bright news on eurozone powerhouse economy Germany. German business confidence rose ...

State Department posts feedback on Keystone pipeline

Fri, 24 May 2013 15:10:21 -0400

WASHINGTON (Reuters) - The State Department says it is taking the unusual step of releasing publicly the feedback it has received about a controversial pipeline project after an "unprecedented" response to its draft environmental ...

Exclusive DBRS to rate all euro zone sovereigns by year-end

Fri, 24 May 2013 15:10:21 -0400

An illuminated euro sign is seen in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt January 8, ...

DOJ subpoenas documents on Forest Labs inhalation drug

Fri, 24 May 2013 15:10:20 -0400

FRX.N ) received a subpoena earlier this month from U.S. prosecutors requesting documents relating to its small-selling lung disorder product, the Tudorza Pressair inhaler, the company said in a ...

Chiles BCI Bank Acquires Bankias City National For $882.8 Million

Fri, 24 May 2013 15:07:25 -0400

SANTIAGO, Chile – Banco de Credito e Inversiones SA (BCI.SN), Chile's third largest private bank in terms of loans, said in a filing with the local banking overseer it agreed to purchase Spanish Bankia SA's (BKIA.MC) City National Bank of Florida for $882.8 million.The purchase, which it said will close in the first quarter of next year, represents 12.6% of the bank's market ...

Citibank Asks U.S. Court for Argentina Bond-Payment Assurances

Fri, 24 May 2013 15:07:25 -0400

Citibank has asked a U.S. district court to confirm that its Argentine banking unit isn't bound by a ruling that bars the Argentine government from making payments on bonds it issued under New York law.Despite a previous ruling to that effect, Citibank is once more seeking assurances that payments made on Argentine law bonds held in custody at Citibank Argentina are beyond the reach of any ...

Dont Buy Talk of Dollars Demise

Fri, 24 May 2013 15:07:23 -0400

The demise of the U.S. dollar as the world's go-to currency appears to have been greatly exaggerated. Pointing to the scary 2008 financial crisis and America's bloated budget deficit, greenback haters have predicted the eventual move away the dollar for years, suggesting potential alternatives like the euro, gold and China's currency. But the dollar's status as the ...

Loblaw files preliminary prospectus for $7-billion REIT

Fri, 24 May 2013 15:06:00 -0400

Loblaw Cos. Ltd. filed a preliminary prospectus Friday for a planned $7-billion real estate investment trust for its sizable land portfolio under the name Choice Properties Real Estate. The units of the REIT will be priced at $10, comprised of 425 properties and 35.3-million square feet of leasable space. It includes 415 retail properties, an office complex and nine warehouse properties. The ...

Search on for Poloz’s replacement at Export Development Canada

Fri, 24 May 2013 15:05:59 -0400

OTTAWA -- With the appointment of Stephen Poloz as governor of the Bank of Canada, the search is on for his replacement at Export Development Canada. Mr. Poloz, currently president and CEO of the export credit agency, was chosen May 2 to replace bank governor Mark Carney, who is leaving June 1 to head the Bank of England. Mr. Poloz begins his new job on June 3. The quick turn-around means ...

Toronto Mayor Ford’s alleged crack use hasn’t hurt Moody’s ratings

Fri, 24 May 2013 15:05:59 -0400

Toronto Mayor Rob Ford's alleged cocaine use, which has become material for U.S. late-night comedy sketches and prompted calls for his resignation, hasn't impaired the city's ...

Microsoft Explains the Xbox Ones Cloud-Enhanced Graphics

Fri, 24 May 2013 15:05:39 -0400

IDG News Service - While Microsoft's next-generation Xbox One will have plenty of power on its own, sometimes it might opt for a little help from the ...

Obamacares union support waning

Fri, 24 May 2013 15:04:41 -0400

WASHINGTON Some labor unions that enthusiastically backed President Barack Obama's health care overhaul are now frustrated and angry, fearful that it will jeopardize benefits for millions of their members. Union leaders warn that unless the problem is fixed, there could be consequences for Democrats facing re-election next year. "It makes an untruth out of what the president said -- ...

What we think we know about what Microsoft isn’t saying about the Xbox One

Fri, 24 May 2013 15:02:25 -0400

For all of the things Microsoft has revealed about the Xbox One this week, the company has evaded and dismissed just as many important questions and concerns about the console. In an effort to clear the air, we've pieced together the best available information on three of these important issues while we wait for Microsoft to offer more ...